Mortgage News

Queensland is to abolish Mortgage Stamp Duty for all, reducing the cost of home buying.

Second and subsequent home buyers, businesses and property investors in Queensland Australia will be the big winners in Tuesday's State Budget with an average $1000 coming off the cost of buying a property. Read More

Reverse Mortgages will reverse your equity

Reverse mortgages may not be the retirement funding quick-fix that some retirees are hoping for. The results of a "shadow shop" of mortgage brokers and lenders by consumer group Choice shows that retirees tempted to take out a reverse mortgage need to tread very carefully. Read More

Higher interest rates slow business, personal and mortgage lending

The rate of growth in lending to Australian business and the growth of personal and mortgage credit has slowed to its lowest level in a year and a half as higher interest rates make borrowing more expensive. Read More

Prime Minister John Howard considers house rent relief for tenants and pressuring States to release more land for housing for first time home buyers caught in the rent trap

John Howard has confirmed he is considering relief for renters as landlords increasingly move to rental auctions in the tight housing markets.

While the Prime Minister stopped short of promising direct house rent relief yesterday, he argued that one of the problems was the failure of state governments to release more land, driving up the cost of housing. Read More

National Australia Bank follows Westpac in lowering long term fixed interest rates.

The NAB lowered fixed interest rates on its long-term fixed mortgage products despite rising funding costs in the wholesale money market, as they bet on lower mortgage rates in the longer term. Read More

Sydney waterfront home sets real estate sales record

A Sydney waterfront home has become Australia's most valuable piece of real estate, selling for $21,000 a square metre!
The four-bedroom home, which sits on 860sqm in Sydney's exclusive Rose Bay, in the city's east, has changed hands for a little more than $18 million as the prestige property market continues to surge. Read More

Bricks and Mortar property investment can have its rewards

Bricks and mortar have been a big investment winner for Debra and Kelvin Soper, who have built a portfolio of residential properties since buying their first seven years ago.

Their success in property investment has given them the financial muscle to buy a convertible sports car.

What was your first investment? How did it go? Read More

Mortgage Interest rates tipped to remain steady as RBA has flagging economy and drought to think about

Good news for those in the Mortgage belts of Brisbane, Sydney and Melbourne the Reserve Bank of Australia is set to keep interest rates on hold today, with data showing the economy is being weighed down by drought conditions and less than ideal economic growth. Read More

Split Mortgage loan Tax Office ruling good news for leveraged property investors.

December 3, 2007

The ATO has done investors a favour with its decision on Austral Mortgage' split purpose loans.

Sending a shiver down the spine of every investor who had been claiming interest on interest, the Tax Office 10 years ago clamped down on a split purpose loan from Austral Mortgage that let you pay off the house quickly while the line of credit for investments was allowed to capitalise. Read More

Mortgage rates are pushing first time home buyers out of the home market

First time home buyers and renters are in danger of being locked out of Australia's property market with another interest rate rise set to jeopardise housing affordability and send rents higher.

The Reserve Bank of Australia (RBA) jacked-up official interest rates by a quarter of a percentage point to 6.25 per cent. This November 2007 is the third rise this year following an increase of 25 basis points in May and another by the same amount in August. Read More

Most mortgage households are taking the recent interest rate rises in their stride

Australian mortgaged homeowners and home buyers are in the main taking the two home loan interest rate rises that occurred earlier this year in their stride. Read More

Home loan fall in demand won't affect mortgage interest rates

12th October 2008
A fall in applications and approvals for housing loans in August in Australia was unlikely to have an effect on [reducing] interest rates, economists said today.
Housing finance commitments for home owner-occupied housing fell 1 per cent in August, seasonally adjusted, to 63,217, the Australian Bureau of Statistics said.
Total housing finance by value fell 1.3 per cent in August, seasonally adjusted, to $19.852 billion. Read More

Mortgage home loan refinance. Mortgage refinancing, home loan and mortgage refinance including home equity loan refinancing and bad credit loan refinance for first mortgages and second mortgages.